Design One enters administration
Design One, the creative design agency based in Solihull, has entered administration. Ian Pankhurst and Jeremy Bowden, of Warwick-based Senate Recovery, have been appointed as joint administrators.
It is thought the company, which was formerly known as X Factor Design, employs about 25 people.
Design One had posted losses in both its 2009 and 2010 accounts. For the year ending 31 March 2010, the company made a loss of £48,669. In its accounts for the year ending 31 March 2009, the business posted a loss of £95,769.
However, in its March 2010 accounts, the company posted positive net assets of £1,332, compared to its liabilities of £45,768 the year before.
Design One, which was established in 1989, presents marketing and creative design solutions to businesses.
The company is based in Malt House Barns in Lapworth.
Insider contacted both the company and the administrators but no-one was available for comment.
